Market Overview:
Scopolamine is an alkaloid drug derived from plants in the Solanaceae family such as Datura stramonium, D. metel, and D. innoxia. It is mainly used to treat gastrointestinal problems associated with motion sickness. It works by blocking the action of acetylcholine, a chemical neurotransmitter that transfers signals within the nervous system and between nerve cells and effector cells. By blocking acetylcholine, scopolamine prevents the nausea, vomiting, and dizziness associated with motion sickness. It is available in oral and transdermal formulations. The growing incidence of motion sickness during travel on sea, air or land and increasing awareness about available treatment options are driving the growth of the scopolamine market.
Market key trends:
One of the key trends in the scopolamine market is the increasing demand from the pharmaceutical industry. Pharmaceutical manufacturers are focusing on developing innovative drug delivery systems and new formulations of scopolamine drugs to improve patient convenience and compliance. For instance, scopolamine patches and transdermal delivery systems release the drug consistently, allowing flexible dosing and longer effective duration. Additionally, advancements in drug delivery technologies are enabling development of long-acting injectable and implantable formulations of scopolamine, offering sustainable symptom relief. These innovations are expected to facilitate wider adoption of scopolamine drugs and boost market revenues over the forecast period.
The global Scopolamine Market Share is estimated to be valued at US$ 3676.85 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: The threat is low in the scopolamine market as substantial initial investments are required to conduct R&D and for production facilities. Existing players enjoy considerable economies of scale.
Bargaining power of buyers: The bargaining power of buyers is moderate as scopolamine products have few substitutes and buyers have standard quality requirements.
Bargaining power of suppliers: The bargaining power of suppliers is low as raw materials for scopolamine production are easily available from multiple suppliers.
Threat of new substitutes: The threat is low as scopolamine has few alternatives for its indication of motion sickness and other conditions.
Competitive rivalry: High as the market is dominated by few major players.
Key Takeaways
The global scopolamine market is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing incidence of motion sickness.
North America is expected to dominate the global scopolamine market during the forecast period. This is attributed to increased awareness about motion sickness and its treatment. Asia Pacific is anticipated to exhibit the fastest growth owing to rising healthcare spending and increasing development in the pharmaceutical industry in the region.
Key players operating in the scopolamine market are Baxter International Inc., GlaxoSmithKline plc, Novartis AG, Perrigo Company plc, Caleb Pharmaceuticals, Inc., Myungmoon Pharma Co. LTD., Alchem International, Phytex Australia, Centroflora-Cms, Alkaloids of Australia, and Fine Chemicals Corporation.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it